Spirit AeroSystems (NYSE:SPR) Sets New 1-Year High - Here's Why

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.14 and last traded at $36.83, with a volume of 23406 shares traded. The stock had previously closed at $36.70.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPR. Royal Bank of Canada reiterated a "sector perform" rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. StockNews.com started coverage on shares of Spirit AeroSystems in a research report on Saturday, March 8th. They set a "hold" rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Spirit AeroSystems presently has an average rating of "Hold" and a consensus price target of $36.56.

Spirit AeroSystems Stock Performance

The business's fifty day moving average price is $34.39 and its 200-day moving average price is $33.67. The stock has a market cap of $4.44 billion, a PE ratio of -3.05 and a beta of 1.63.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.14) by ($3.11). The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.74 billion. The firm's revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.93) earnings per share. Analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors have recently made changes to their positions in SPR. Norges Bank purchased a new stake in shares of Spirit AeroSystems during the 4th quarter valued at about $105,879,000. National Bank of Canada FI boosted its holdings in shares of Spirit AeroSystems by 47.2% in the fourth quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company's stock worth $125,453,000 after buying an additional 1,181,147 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Spirit AeroSystems by 73.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,438,791 shares of the aerospace company's stock worth $83,114,000 after buying an additional 1,029,989 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Spirit AeroSystems by 51.9% in the first quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company's stock worth $87,722,000 after buying an additional 870,263 shares during the last quarter. Finally, Alpine Associates Management Inc. boosted its holdings in shares of Spirit AeroSystems by 30.1% in the fourth quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company's stock worth $105,395,000 after buying an additional 714,984 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company's stock.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.